Online is still such a different mindset. No one opens a pizza restaurant giving away slices for free hoping they'll grow quickly enough to become a large chain. But that's still the default business model in VC-saturated computerworld.
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Here's a nice summary of how the process works. You create something with enough buzz to attract the magpie attention span of a VC, who then gives you a fortune. It's a peculiar high-touch luxury sales model, one even more specialized than enterprise https://medium.com/@jmj/investing-in-roam-research-d8038971e871 …pic.twitter.com/Vq5ZHL1rI8
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This is the part people misunderstand about the tech economy. The Juicebro was laughable as a mechanism for extracting juice from chopped vegetables, but as a mechanism for extracting money from flattery-prone investors, it has rarely been excelled. The product was a side effectpic.twitter.com/v0wa7PruWe
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To understand the startup economy, you need to look at it as a form of performance art, targeted at a very small market of idiosyncratic art collectors. Part of the culture of this art market is not breaking kayfabe, and pretending that everything has a real world growth story.
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Because you're targeting art collectors, the important thing is to tell them stories about the world that *they* find credible, whether or not they're real. And they want to live in an exciting sci-fi world of tomorrow, or at the very least, be admired for their mental daring
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“avoid the rapid growth problem entirely” How’d that one work out for you? :P https://blog.pinboard.in/2011/03/anatomy_of_a_crushing/ …
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I believe it started at $2.33
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